The EUR/JPY hovers below the 158.00 area after clinging to slim gains on Wednesday. The Federal Reserve’s decision to hold rates while upward revising its estimates on interest rates for the next year is a headwind for the Euro (EUR) as Thursday’s Asian session begins. At the time of writing, the cross exchanges hands at 157.94, down 0.06%.
The daily chart portrays the pair is trading sideways, though it printed a new weekly high of 158.45, but failure to cling to 158.00 opened the door for a pullback. In that event, the EUR/JPY first support would be the Senkou Span A at 157.89, followed by the Tenkan-Sen at 157.61. Further downside is expected at the top of the Ichimoku Cloud (Kumo) at 156.50.
Conversely, if EUR/JPY reconquers the 158.00 mark, the next resistance would be the September 20 high at 158.45. A breach of the latter will expose the 159.00 mark, followed by the year-to-date (YTD) high at 159.76.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.